VANCOUVER,
March 12, 2014 /CNW/ - International
Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX: ITH,
NYSE-MKT: THM, Frankfurt: IW9) today announced that it has filed
its audited year-end financial statements and associated management
discussion and analysis and year-end report on Form 10-K for
the twelve month period ended December
31, 2013. Highlights provided in this news release should be
read in conjunction with the 10-K.
The Company's working capital as of December 31, 2013 was USD12.7 million, which is expected to allow the
Company to advance the Livengood Gold Project well into 2015.
During the fourth quarter of 2013, the Company
announced the appointment of Mr. Thomas
Irwin as President and Chief Executive Officer effective
January 1, 2014. Mr. Irwin stated
"The Livengood Gold Project has significant fundamentals with a
substantial multi-million ounce gold asset; favorable location; a
stable jurisdiction, one of the best in the world; a proven
management team and an experienced board of directors. As part of
positioning the Company for the path forward, the board was
strengthened in February 2014 with
the addition of two mining veterans, Mr. Stephen Lang and Mr. John Ellis. Steve and John bring tremendous
industry knowledge and experience to the board. The Project
also provides a strong leverage to the price of gold."
The Company will continue to advance the Project by
conducting the necessary environmental baseline activities to
maintain the integrity and usability of the data already compiled
for future permitting, continue work on evaluating the project
opportunities identified in the NI 43-101 filed on September 6, 2013 and those subsequently
developed by the Company, and advance the discussions with entities
that have signed confidentiality agreements regarding the Livengood
Gold Project.
Shareholders can obtain copies of the Company's
annual documents on SEDAR at www.sedar.com, on EDGAR at www.sec.gov
and on ITH's website at www.ithmines.com. ITH will also
provide hard copies of these documents, free of charge, to
shareholders who request a copy directly from the Company.
About International Tower Hill Mines
Ltd.
International Tower Hill Mines Ltd. controls a 100%
interest in the world-class Livengood Gold Project accessible by
paved highway 70 miles north of Fairbanks, Alaska.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian and US securities legislation. All statements, other
than statements of historical fact, included herein, including
statements with respect to the potential for the Company to
identify and secure a joint venture partner for the Livengood
Project, the ability of the Company to continue to maintain the
necessary environmental baseline activities to maintain the
integrity and usability of the five years of historical data
already compiled, the ability of the Company to optimize and/or
enhance the base case as set out in the Feasibility Study, the
ability of the Company to provide shareholder value through
securing a joint venture for the Livengood Project, the ability of
the Company to advance the Livengood Project, whether incrementally
or at all, the expectation that the Company has sufficient working
capital to advance the Livengood Project well into 2015, the
potential development of any mine at Livengood, business and
financing plans and business trends are forward-looking
statements. Information concerning mineral reserve/resource
estimates and the economic analysis thereof contained in the
feasibility study also may be deemed to be forward-looking
statements in that it reflects a prediction of the mineralization
that would be encountered, and the results of mining it, if a
mineral deposit were developed and mined. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be
correct. Forward-looking statements are typically identified
by words such as: believe, expect, anticipate, intend, estimate,
postulate, proposed, planned, potential and similar expressions, or
are those, which, by their nature, refer to future events. The
Company cautions investors that any forward-looking statements by
the Company are not guarantees of future results or performance,
and that actual results may differ materially from those in forward
looking statements as a result of various factors, including, but
not limited to, variations in the nature, quality and quantity of
any mineral deposits that may be located, variations in the market
price of any mineral products the Company may produce or plan to
produce, the inability of the Company to obtain any necessary
permits, consents or authorizations required for its activities,
the inability of the Company to produce minerals from its
properties successfully or profitably, to continue its projected
growth, to raise the necessary capital or to be fully able to
implement its business strategies, and other risks and
uncertainties disclosed in the Company's Annual Information Form
filed with certain securities commissions in Canada and the Company's annual report on Form
10-K filed with the United States Securities and Exchange
Commission (the "SEC"), and other information released by the
Company and filed with the appropriate regulatory agencies. All of
the Company's Canadian public disclosure filings may be accessed
via www.sedar.com and its United
States public disclosure filings may be accessed via
www.sec.gov, and readers are urged to review these materials,
including the latest technical report filed with respect to the
Company's Livengood property.
This press release is not, and is not to be
construed in any way as, an offer to buy or sell securities in
the United States.
SOURCE International Tower Hill Mines Ltd.